(a) A large employer health benefit plan issuer:
(1) may refuse to provide coverage to a large employer in accordance with the issuer’s underwriting standards and criteria;
(2) shall accept or reject the entire group of individuals who meet the participation criteria and choose coverage; and
(3) may exclude only those employees or dependents who decline coverage.
(b) On issuance of a health benefit plan to a large employer, a large employer health benefit plan issuer shall provide coverage to the employees who meet the participation criteria without regard to an individual’s health status related factors.